Technology
CXApp Inc. (NASDAQ: CXAI) Reports 2024 Financial Results and AI-Centric Transformation
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Highlights
CXApp Inc. (NASDAQ: CXAI) has announced positive financial results for 2024, marking a successful transition to an AI-focused subscription application business. The company’s strategy of shifting to AI-driven products has resulted in notable improvements in its financial performance, customer retention, and operational efficiency.
For the fiscal year 2024, CXApp reported a significant increase in subscription revenue, which now accounts for 87% of total revenue, up from 78% in 2023. This shift reflects the company’s successful pivot to its AI-centric platform. Additionally, CXApp achieved a remarkable 101% Net Revenue Retention (NRR), up from 73% in the previous year, demonstrating strong customer satisfaction and the effectiveness of its subscription-based offerings.
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